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The Curse of Cash: How Large-Denomination Bills Aid Crime and Tax Evasion and Constrain Monetary Policy

Penned By Kenneth S. Rogoff
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The Curse of Cash: How Large-Denomination Bills Aid Crime and Tax Evasion and Constrain Monetary Policy

Penned By Kenneth S. Rogoff
4.85 44,659 Ratings
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Editor's Note:
The world is drowning in cash--and it's making us poorer and less safe. In The Curse of Cash, Kenneth S. Rogoff makes a persuasive and fascinating case for an idea that until recently would have seemed outlandish: getting rid of most paper money. Even as people in advanced economies are using less paper money, there is more cash in circulation--a record $1.4 trillion in U.S. dollars alone. So what is all that cash being used for? The answer is simple: a large part is feeding tax evasion, corruption, terrorism, the drug trade, human trafficking, and the rest of a massive global underground economy. As Rogoff shows, paper money can also cripple monetary policy. In the aftermath of the recent financial crisis, central banks have been unable to stimulate growth and inflation by cutting interest rates significantly below zero for fear that it would drive investors to abandon treasury bills and stockpile cash. The Curse of Cash offers a plan for phasing out paper money and addresses the issues the transition will pose, ranging from fears about privacy and price stability to the need to provide subsidized debit cards for the poor.

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Released September 6, 2016
Identifier (ISBN) 34427069
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Kenneth S. Rogoff
The Mind Behind the Work
Kenneth S. Rogoff

Kenneth S. Rogoff is a writer and avid reader based in the Pacific Northwest. Before pursuing writing full-time, they spent over a decade working in education. When not working on their next book, Kenneth S. Rogoff can usually be found hiking with their dog or trying out new coffee shops in their neighborhood.

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"Took a moment to build, but the payoff was spectacular. Beautiful writing, though I craved slightly more depth in the lore. Still, undeniably engaging. A wonderful companion for a quiet weekend."
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Christopher Green
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William Moore
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"A profoundly satisfying read. The pacing was impeccable and the characters felt incredibly authentic. I was completely immersed. I am now a lifelong fan of this author."
Steven Green
Steven Green March 19, 2024
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"Exceeded all my expectations. I became deeply invested in the protagonist's journey. A masterclass in storytelling. Worth every moment spent reading."
Edward Taylor
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"A highly sophisticated read. The protagonist was compelling, though some subplots felt slightly overshadowed. A very distinguished novel."
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"Such a rich narrative. The author orchestrated a breathtaking finale. Truly a work of art. An absolute must-read for connoisseurs of the genre."
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